Reward System Essay

753 words - 4 pages

Reward systems are always criteria to determine the performance of a business as well as individuals contribute to it. A properly calculated and administered reward system can be a real good motivation for quality workman ship or staff performance. Similarly a poorly judged and administered reward system can trigger the “folly of rewarding A while hopping for B”

Most of the staff irrespective of the region or activity they indulged seeks to identify the activities which could earn those rewards and always tends to do so. While most of the rewards expected are tangible; intangible rewards also pay back well to an organization where emotional motivational inducement systems are working.
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The theory asserts that motivation is   based on people's beliefs about the probability that effort will lead to performance (expectancy),   multiplied by the probability that performance will lead to reward (instrumentality), and multiplied by the perceived value of the reward (valence)
    The expectancy theory is the perceived value of a reward for accomplishing a goal.  If the person     perceives the reward to be high, then they will give more effort.  If they perceive the reward to be low, then they will give forth minimal effort.  If the reward seems undesirable, it could be     an example of a de-motivator.
How the reward system designed and administered and when it is administered are equally important in motivating the staff. I will explain some of the real activities in our organization which mostly lead us to optimize the out put while keeping the operational cost in line with the inflation level. In the financial year 2004 the only reward system available was year end bonus scheme. The way it was designed was based on century old idea of a group of people deciding a lump sum amount from the profit and this amount will be distributed among employees by the top manager where the personal relationship with him was the main criteria to attract a reasonable reward payment. Eventually this lead to a...

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